FSA issues final research conflict-of-interest rules
London -- In March, the UK’s Financial Services Authority (FSA) published PS04/6: Conflicts of interest in investment research -- Feedback on CP205 and made Handbook text. The new rules come at the same time as various other initiatives around the world in the same area. The International Organisation of Securities Commissions (IOSCO) published principles in September 2003, and other countries such as the US, Hong Kong, and Singapore are in various stages of implementing similar regulations.
"These proposals clarify how we expect firms issuing investment research to conduct themselves," said Christina Sinclair, head of the business standards department at the FSA. "Our objective is to improve confidence in the integrity of financial markets. Our requirements recognise that conflicts can affect investment research on products and markets beyond equity securities and include fixed income. But they are flexible framework requirements, which can be implemented across a broad range of
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